Charter Hall in partnership with Hickory has quietly snapped up the former Goldfingers strip club – and won approval to build a 22 storey office.
A c$50 million off-market purchase, from United Petroleum founders Eddie Hirsch and Avi Silver to Hickory, is understood to have been negotiated by Colliers’ Daniel Wolman last year.
This week, the Future Melbourne Committee approved its redevelopment, which will now be reviewed and likely approved by planning minister Richard Wynne.
The 1750 square metre site includes the c1915 art nouveau Kilkenny Inn at the north east corner of King and Lonsdale streets, and neighbouring buildings (572-574 Lonsdale St) – all which operated as Goldfingers between 1997 and last year.
The redevelopment also includes 248-250 King St and the former Paramount House (256-260 King St), and Gough Lane.
What is planned at Goldfingers
The proposed asset – to be known as 580 Lonsdale St – would rise 80 metres and include c24,000 sqm of offices, c800 sqm of lower-level retail and an activated laneway (story continues below).
The development would retain most of the Kilkenny Inn.
The project’s end value is speculated to be c$500m.
Not far away, at the south west corner of Collins and King, Charter Hall is constructing a 34-level commercial building, about 31 per cent (15,000 sqm) which is pre-committed to Amazon.
A second office rising 28 storeys is earmarked by the landlord next to this – replacing the Victorian Civil and Administrative Tribunal’s city base (55 King St).
Last April, Dexus acquired a half stake in the Rialto Towers holding following a $644m off-market deal with St Martins Property, which co-developed the landmark building with Grollo Group in 1981.
In early 2018, that partnership acquired King Street’s Inflation nightclub, with plans to incorporate it into a ground level redevelopment of the landmark Rialto.